ECONOMICS
FINANCIAL MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The International Finance Corporation (IFC)
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The International Bank for Reconstruction and Development (IBRD)
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The Multilateral Investment Guarantee Agency (MIGA)
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None of the above
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Detailed explanation-1: -As the largest development bank in the world, it supports the World Bank Group’s mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, as well as by coordinating responses to regional and global challenges.
Detailed explanation-2: -The IBRD provides commercial-grade or concessional financing to sovereign states to fund projects that seek to improve transportation and infrastructure, education, domestic policy, environmental consciousness, energy investments, healthcare, access to food and potable water, and access to improved sanitation.
Detailed explanation-3: -The IBRD Flexible Loan (IFL) is the leading loan product of the World Bank for public sector borrowers of middle-income countries.
Detailed explanation-4: -LENDING OPERATIONS. The IBRD lends to member governments, or, with government guarantee, to political subdivisions, or to public or private enterprises. The IBRD’s first loan, US$ 250 million for postwar reconstruction, was made in the latter part of 1947.
Detailed explanation-5: -India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.